Parliament will approve a change in the BGN-EUR exchange rate[ BG ]

[[MC]Ronin[MC]]

Parliament will approve a change in the BGN-EUR exchange rate

Prime Minister Boyko Borisov insisted that this should be enlisted in the law

 

 

 

 

 

The Euro-Lev exchange rate agreed between the other countries in the Eurozone, Denmark and the European Central Bank should be accepted only with the ratification of the Bulgarian Parliament.

Prime Minister Boyko Borisov of the Bulgarian National Bank and the Ministry of Finance requested such amendment of the law to prepare new legislative amendments related to the expected accession of Bulgaria to the Currency Exchange Mechanism (ERM-2) and then to the Eurozone.

Is there a risk to our savings in BGN?

Prior to the Council of Ministers meeting today, Borisov suggested that the Finance Minister meet with the BNB Governor and the Chairman of the Budget Committee.

It will discuss legislative changes to guarantee the exchange rate of the lev to the euro. "These changes have to be coordinated with the European Central Bank," Borisov said, quoted by BTA.
 
"I have heard a lot of speculation about the request that Bulgaria be in the waiting room of the Eurovision.

This is the most important goal to protect our financial system. When you're in the Eurozone, you can't be in second-rate countries.

Everyone in the Common Banking Union wants to know the situation of Bulgarian banks, ”he added.

Will the Bulgarian lev depreciate?

We recall that on January 23, the Chairman of the Budget Committee tabled amendments to the BNB Act, which, according to BNB Governor Dimitar Radev, had been requested by the European Central Bank.

In practice, our country agrees that the other countries in the monetary union, together with Denmark and the ECB, will, by secret ballot and after negotiations, determine the euro / lev exchange rate with which we will join ERM-2.